International Business Machines Corporation $IBM Stake Increased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its stake in International Business Machines Corporation (NYSE:IBM) by 51.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,993 shares of the technology company’s stock after acquiring an additional 4,426 shares during the period. Edgestream Partners L.P.’s holdings in International Business Machines were worth $3,830,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Family CFO Inc acquired a new position in International Business Machines in the second quarter worth about $25,000. Winnow Wealth LLC bought a new position in International Business Machines during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC grew its position in shares of International Business Machines by 85.0% in the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Dagco Inc. bought a new stake in shares of International Business Machines in the 1st quarter valued at approximately $31,000. Finally, Silicon Valley Capital Partners raised its position in shares of International Business Machines by 322.6% during the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.4%

IBM stock opened at $302.97 on Thursday. The stock has a market cap of $283.19 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 3.04 and a beta of 0.69. The firm’s 50-day simple moving average is $295.92 and its 200 day simple moving average is $275.86. International Business Machines Corporation has a fifty-two week low of $214.50 and a fifty-two week high of $324.90. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the previous year, the business posted $2.30 EPS. International Business Machines’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s dividend payout ratio is 80.38%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. Sanford C. Bernstein started coverage on shares of International Business Machines in a research report on Monday, September 15th. They issued a “market perform” rating and a $280.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of International Business Machines from $310.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. BMO Capital Markets increased their price objective on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Finally, Bank of America raised their target price on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $291.08.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.